Stock Market & Financial Investment News

On The Fly: After Hours MoversUP AFTER EARNINGS: Team (TISI), up 5%... ALSO HIGHER: Uranium Resources (URRE), up 13.9% after announcing an extension of a joint venture with Cameco (CCJ)... Wet Seal (WTSLA), up 3.7% after naming John Goodman CEO... Abraxas Petroleum (AXAS), up 3.2% after its CEO said the company expects a 2013 production boost from its Eagle Ford and Bakken sites... DOWN AFTER GUIDANCE: Yum! Brands (YUM), down 5.2% after lowering its China SSS guidance to down 6% from down 4%... Kindred Healthcare (KND), down 2.4% after lowering its FY13 EPS view... Plexus (PLXS), down 3.2% after cutting its Q1 EPS and revenue view... ALSO LOWER: Calumet Specialty Products (CLMT), down 4.5% after the company announced a 5M-unit public offering of common units.

Abraxas Petroleum 'unaware' of reason for recent stock price underperformanceAbraxas Petroleum Corporation commented on recent market conditions. Aside from weakness in the general commodity markets, Abraxas is unaware of any fundamental reason for the company’s recent stock price underperformance. Abraxas notes that the company exited June 30, 2015 $108 million borrowed on the company’s $165 million borrowing base. With an additional nine well completions during the quarter, and only bank deb in the Company’s capital structure, the company is very comfortable with its asset coverage. Additionally, with a $55 million capital program that approximates forecasted cash flow, the company remains comfortable this strong financial positioning should continue through 2015. Moreover, the company reiterates that in outer years, it currently forecasts it can hold production at over 7,000 boepd running a one rig Bakken program, which approximates a $50-$60 million capital program. Abraxas also reiterates the company’s 2015 production guidance of 6,500-7,000 boepd. Abraxas plans to close out the company’s second quarter production and financial results the week of July 27, 2015. In the coming week Abraxas will also have 30 day rates for the company’s four Bakken and two Eagle Ford completions. When these results are available, Abraxas will furnish them to the Street.

Plexus sees Q4 EPS 64c-72c, consensus 76cSees Q4 revenue $650M-$680M, consensus $689.9M. CEO Dean Foate said, "Our fiscal third quarter results were consistent with our announcement of preliminary results on July 13th. While revenue of $670M set a new quarterly record for the company, our results were disappointing given the stronger expectations we had when we issued our initial guidance in April. Looking forward to next quarter, we expect continuing end-market weakness in our Networking/Communications sector to largely offset anticipated sequential growth in our other three market sectors. As a consequence, we are guiding fiscal fourth quarter 2015 revenue of $650M-$680M. Achieving the midpoint of our guidance would result in full year revenue growth just shy of our 12% enduring goal."